The above figure shows a firm's total revenue line. The firm must be in a market with
A) perfect competition.
B) monopolistic competition.
C) monopoly.
D) oligopoly.
A
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
The approach economists use to analyze competition among oligopolists is called
A) marginal analysis. B) game theory. C) competition among the few. D) oligopoly theory.
Refer to Figure a. If ? (the probability of state S) decreases, the x-intercept for the solid constant expected consumption line:
A. increases.
B. decreases.
C. does not change.
D. The answer cannot be determined without more information.
One major factor contributing to rising health care costs is:
A. The increased use of expensive outpatient facilities B. Reduced insurance coverage of new medical illnesses C. Payments for medical services given to immigrants D. The lack of patients' concern regarding cost of treatments